How it started
Early years
On 18 November 1994, Wang Chuanfu gathered a team of 20 people and founded BYD in Buji Town, Longgang District, Shenzhen. The company was formally founded on 10 February 1995 as Shenzhen BYD Battery Company Limited with CN¥ 2.5 million of capital, with a focus on producing rechargeable nickel–cadmium (NiCd) batteries. Wang founded the company after noticing an opportunity presented by the shift in Japanese companies from NiCd to high-value nickel–metal hydride (NiMH) and lithium-ion (Li-ion) batteries while he was working as a vice supervisor at the Beijing Nonferrous Research Institute. He moved to Shenzhen with his cousin Lu Xiangyang and started the company in 1995 to capitalize on the opportunity.
BYD's business grew by implementing a redesigned manufacturing approach by incorporating more manual labour, in contrast of the capital-intensive and highly automated processes in Japan. This manufacturing process, along with in-house production of key machinery, contributed to a reduction in unit costs compared to Japanese competitors by around five or six times lower. The company also developed advancements in battery technology, including foamed nickel roller welding, which improved electrode performance.
BYD's cost-efficient production methods attracted major clients. In 1996, BYD secured an order from Sanyo, marking its entry into the global battery supply chain. By 1997, amid the Asian financial crisis, Philips, Panasonic, and Motorola became BYD's major clients.
In 1998, BYD's first branch outside China, BYD Europe B.V., was opened in the Netherlands. It also established a branch in the United States called BYD America Corporation in 1999. BYD opened its first industrial park in Kuichong, Shenzhen in 2000.
BYD started producing mobile phone components in the early 2000s. By July 2002, BYD became the world's leading NiCd battery manufacturer, surpassing Sanyo, accounting for 65% of global production.
From Wikipedia’s article on BYD Electronic, shared under CC BY-SA 4.0.2